The United Arab Emirates is an attractive destination for foreign investors looking to set up a business. Tax savings, ease of doing business, sound infrastructure, e-governance system, premium lifestyle, bourgeoning business opportunities, and the recent ruling allowing 100% foreign ownership has made the UAE a numero uno choice among foreign investors.
Company setup in Dubai can be quite challenging, more so if you’re an overseas entrepreneur setting up your company in the UAE for the first time. That’s why Avyanco is on hand to make registering a company in Dubai and the UAE effortless for you.
Avyanco covers all of the technical and administrative aspects of Opening a company in Dubai establishing a business in the UAE. Our team of experts will work with you to determine the most suitable license based on the activities or services you want to provide. We’ll do all the hard work for you, such as liaising with the relevant authorities and government departments. We’ll also prepare all the relevant legal documents, assist with the visa application process and provide corporate bank account opening introductions.
We don’t just assist with company formation in Dubai ; we understand the customer’s journey and aim. We will guide you to open a company either in the free zone or the mainland of UAE, depending on your needs. If you need to open a trading company, need more visas under the company, want to trade in the local market, or need a company corporate bank account quickly, we suggest opening a company in the Dubai mainland instead of the free zone. If an investor wants to start a free zone company but does not have the necessary documents to open a corporate bank account (according to bank compliance requirements), we can provide alternative solutions for them.
This multi-layered service has made Avyanco one of the leading company formation specialists in the region. It is also why plenty of entrepreneurs choose us for assistance and guidance while registering a company in Dubai or UAE.
A Step-by-step Guide on Company Setup in Dubai
The process of setting up a new business in the UAE can seem complicated. Even so, with a simple step-by-step process with a knowledgeable team supporting you, it can be easier than you might think.
Select your business activity
The kind of business you want to set up can influence where you should set up your company in the UAE. For instance, certain free zones only allow certain kinds of activities, such as media, medical, or transport. If you want to start a business that does not come under the ambit of free zones, you need to consider starting a company on the mainland. Geographical location also matters – if your business depends on import/export, you will probably want to be located near an airport or port. While it is true that the final decision can be taken later on in the process, having a clear idea about the business activity you want to start makes it easier to eliminate some options early on.
Select your company name
The UAE has rather stringent naming conventions. Therefore, your business name must conform to local regulations and sensitivities. Names that include offensive language are prohibited, as are any company names that refer to religions. Suppose you want to name your business after a person. In that case, that person has to be a partner or owner of the company, and their full name must be used, not initials or abbreviations. It will be best to consult a company setup expert like Avyanco on all the naming conventions. You can save yourself a lot of time and effort by sharing your proposed name with us to run checks on whether it is appropriate. If it isn’t, we can help you come up with something that is.
Hire a UAE National if required
If any foreign national chooses the Professional type of business in Dubai, then foreign national must hire a UAE national as local agent against payment of nominal annual remuneration to him/her and now As per the amended Law No. 2 of 2015 of commercial companies in UAE no need to partner with UAE national if the commercial and industrial activities of the business.
Choose the legal Structure of the company
A foreign national has to choose the legal structure of the company such as
– Sole Establishment
– Partnership Firm
– Limited Liability Company (LLC)
– Branch of Foreign Company
– Branch of Free zone company
– Branch of other emirates Company
Complete all your incorporation paperwork
You will need to complete an application for your chosen company name and activity. This must be provided to the relevant government authorities along with copies of shareholders’ passports. Some free zones may need additional documentation, for instance, a business plan or Non-Objection Certificate (NOC). While paperwork may be the most demanding and time-consuming of all the steps, it doesn’t have to be too strenuous if undertaken with Avyanco’s expert help. Our business setup team can advise you on the paperwork required and help you complete it without too much hassle.
Receive your license notification
This is probably the simplest step of all. Once your application has been processed, then you will be issued your company license. Avyanco will notify you when your documents are ready to be collected.
Open a corporate bank account
Once you have all the documentation required, you will need to open your corporate bank account. The UAE has many reputable banks, both local (Emirates NBD, Abu Dhabi Commercial Bank, the Commercial Bank of Dubai) and international (HSBC, Citibank, and Barclays). You can either get in touch with the bank of your choice or ask your company setup partner to fix up meetings with several banks to help you choose the most suitable option.
Get your visa processed
This is the final step in setting up a company in the UAE. Many free zones will allow you to put in applications for staff and dependents while applying for your own visa. The number of visas you apply for depends on where you choose to set up your company. So, if you are looking to obtain visas for your family or other dependents, it is best to seek expert advice on whether it is possible to do so and make sure that you and anyone you are hoping to sponsor for a visa comply with all of the entry criteria. If this all checks out, the visa process comprises four simple stages: entry permit, status adjustment, medical fitness test, and finally, Emirates ID registration and visa stamping.
Cost For Company Setup in Dubai Mainland:
Company Setup in Dubai
|Legal Structure of the Company||Sole Proprietorship||Limited Liability|
|Type of License||Professional License||Commercial License|
|Sr. No.||Particulars||Fees Type||Fee Tenure||Amount in AED||Amount in AED|
|1||Initial Approval Fees||Govt. Fees||One Time||120.00||120.00|
|2||Name Approval Fees||Govt. Fees||One Time||620.00||620.00|
|3||Tasheel Fees||Govt. Fees||One Time||345.00||345.00|
|4||Notary Verification Fees||Govt. Fees||One Time||250.00||500.00|
|5||MOA/LSA-Notary Fees||Govt. Fees||One Time||825.00||1,200.00|
|6||License Fees Approximately||Govt. Fees||Part- Annual||6,800.00||11,000.00|
|7||Immigration Card Fees||Govt. Fees + Typing Fees||Annual||750.00||750.00|
|8||Stamp of the Company||Third Party Fees||One Time||100.00||100.00|
|9||Labour Card Fees||Govt. Fees + Typing Fees||One Time||1,000.00||1,000.00|
|10||External Department Fees||Govt. Fees||Part- Annual||As Per Voucher||As Per Voucher|
|11||Investor Residence visa Fees||Govt. Fees + Typing Fees||Part-3 Years||4,250.00||4,250.00|
|12||Office or Shop Rent||Third Party Fees||Annual||As Per Tenancy Contract||As Per Tenancy Contract|
Cost For Free Zone Company Setup in Dubai:
|1 Visa Package||Free Zone Names and amount in AED|
|Sr. No.||Particulars||Sharjah Media City Free Zone||International Free Zone Authority IFZA||Sharjah Publishing City- SPC|
|1||License & Registration Fees||13,420.00||17,900.00||14,500.00|
|2||E channel Fees||2,525.00||0.00||2,250.00|
|3||Establishment Card Fees||1,500.00||2,000.00||1,575.00|
|6||Bank Account opening Support||6,000.00||6,000.00||6,000.00|
Notes: Government fees are subject to change.
What Business to Start in Dubai
Before starting up a business in Dubai, it is good to know about the business opportunities available in Dubai and UAE and which types of business incorporation you can setup in Dubai.
Depending on investor’s knowledge and expertise they can start a business in Dubai such as real estate brokerage, real estate development, foodstuff trading, Restaurant business, tourism business, shisha café, technical services, management consultancies, marketing agency, accounting and bookkeeping, general trading, mobile trading, furniture trading, building contracting, interior decoration and manufacturing unit etc..
There are more than 2500 business activities listed in Dubai mainland license issuing authority ( DED) so business licenses will be issued by department of economic development or concerned free zone authority in UAE depending on the type of license and nature of business.
There are four types of business licenses in UAE one is Professional license, Commercial license, industrial license, and Tourism licenses. An investor can also choose to setup a branch office of foreign company or branch office of free zone company in the emirates of UAE.
How Avyanco assist you in Company setup process?
The company setup process sounds Confusing, Isn’t it? These tasks may sound complicated—and indeed they can be—but no worries, we are here to assist you with each step. With Avyanco’s comprehensive business set up services, you don’t have to give a second thought to the nitty-gritty of the company setup process in the UAE. Once it is underway, simply supply us with the relevant information about your company, and we’ll do the rest.
With Avyanco as your company setup partner, registering a company in the UAE can be easy, and the entire process can take barely a week.
Contact us today for a free consultation to know more about Registering a company in the UAE. Call/WhatsApp: +971 50 3989000, (T): +971 4 240 5000, Email: firstname.lastname@example.org